Angelina Tobin has employment income of $130,000 for 2022. She is single and lives alone. Angelinas employer

Question:

Angelina Tobin has employment income of $130,000 for 2022. She is single and lives alone. Angelina’s employer withheld EI and CPP contributions of $4,453 (includes CPP enhanced contributions of $461) and income tax.

Determine Angelina’s federal tax payable for 2022 under each of the following assumptions:

(a) She has net income and taxable income of $130,000.

(b) She has net income and taxable income of $180,000.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Canadian Income Taxation 2022/2023

ISBN: 9781260881202

25th Edition

Authors: William Buckwold, Joan Kitunen, Matthew Roman

See More Books

Question Posted: Apr 06, 2023 04:26 AM

See More Questions

The following seven independent Cases make varying assumptions with respect to Roger Blaine and his 2019 tax status. In all Cases, where Roger earned employment income, his employer withheld the...
The following seven independent Cases make varying assumptions with respect to Roger Blaine and his 2019 tax status. In all Cases, where Roger earned employment income, his employer withheld the...
Brent Wells is single and lives alone. During 2022 he earned employment income of $140,000. His employer withheld EI ($953) and CPP ($3,500) contributions of $4,453 (including CPP enhanced...
Compute for the fringe benefits tax due in the following scenarios. During 201A, Alpha Corporation gave the following fringe benefits to its employees: Salaries to rank and file employees P1,000,000...
In Exercise, you learned that 50% of pet owners will get their next dog or cat from a Shelter (USA Today, May 12, 2010). In a random sample of 200 pet owners, let x be the number who will get their...
A youth soccer club has contracted with Holiday Helpers, a local travel agency, to broker hotel rooms for out-of-town teams that have entered the club's Labor Day weekend soccer tournament. The...
Describe a variety of ways in which medical records have been falsified.
Hawkeye Networks is a U.S. corporation with no foreign-source income of its own, but it does have wholly owned subsidiaries in Korea and Singapore. The Korean subsidiary has $43 million of pre-tax...
Details Email Exercise Purpose: To give students practice writing effective emails Instructions: Write a brief email to a friend or family member about your day. Be sure to include the following:...
In 2022, Jon Patel, who is single, earned rental income of $30,000, capital gains of $100,000, and Canadian non-eligible dividends of $20,000. He is exempt from CPP and EI. In addition, Jon is a...
In 2016, Jackson Garza loaned $10,000 to a small business corporation. By the end of 2022, it was established that the loan was bad and that Jackson would not be receiving the $10,000 principal....
Determine the greatest load P that can be applied to the truss so that none of the members are subjected to a force exceeding either 2 kN in tension or 1.5 kN in compression. A C 60 60 -3 m- Prob....
In late 2004, British fashion designer Sara Berman received an unexpected telephone call from Andrea Ragnetti, chief marketing officer for Royal Philips Electronics. Figuring the Dutch company wanted...
The town of Verey, Switzerland, perches among the vineyards above Lake Geneva. Wealthy retirees take in Alpine vistas as they pass their afternoons strolling along the waterfront. The most exciting...
Toyotas vehicle recalls: responses, problems and concerns Introduction Between October 2009 and July 2010, Toyota Motor Corporation recalled 8.5 million cars and trucks. The design and quality...
Is use of the Internet appropriate only for large companies? Explain.
The Woberg Company, located near Aarhus, Denmark, manufactured dishwashers and garbage pulverizers for home use, and cooking equipment and commercial pulverizers for restaurants. A relatively young...
Use the slope and y-intercept of the line y = 2x - 1 to graph the equation y = 2x - 1 by hand. Then choose two points that lie on the graph, and show that both of the corresponding ordered pairs are...
Find the velocity, acceleration, and speed of a particle with the given position function. r(t) = (t 2 , sin t - t cos t, cos t + t sin t), t > 0
Corporation A, a Canadian-controlled private corporation, earns 8% of its net active business income from providing technology services to Corporation B. As total active business income is $400,000...
In addition to its active business income of $300,000, P Ltd., a CCPC, received dividends of $30,000 from a public corporation and had a taxable capital gain of $90,000 on the sale of passive...
Mr. Jones owns 100% of the commons shares of JL Corp, a CCPC engaged in an active business. The FMV of these shares is $900,000 and they have an ACB and PUC of $100,000. Mr. Jones wishes to...
Draw the resonance forms. ( Hint: there are a total of threegood resonance forms, includingfirst one provided above. ) Please answer and explain why! I will rate + H-C=C-C=NH2 HHH (Hint: there are a...
Hydrochloric acid, HCI, reacts with water to form Cl and H3O+. Which of the following is TRUE when the acid is first added to water at T=298 K?
Calculate percentage by mass of hex on gono in a mixture containing 6 . 2 2 g of this compound and 1 8 4 6 0 octane. 2 - Calculate the molarity of NaCi ( mm 5 8 5 g / mol in a solution solution...

Angelina Tobin has employment income of $130,000 for 2022. She is single and lives alone. Angelinas employer

Question:

Step by Step Answer:

Angelinas federal tax payable for 2022 under each of three income alternatives is as follows Basic ...View the full answer

Canadian Income Taxation 2022/2023

Students also viewed these Business questions